CoStar Group (NASDAQ:CSGP) Given “Market Outperform” Rating at JMP Securities

CoStar Group (NASDAQ:CSGPGet Free Report)‘s stock had its “market outperform” rating reissued by equities researchers at JMP Securities in a research report issued on Monday,Benzinga reports. They currently have a $90.00 target price on the technology company’s stock. JMP Securities’ price objective would suggest a potential upside of 23.07% from the company’s previous close.

A number of other research analysts have also recently issued reports on CSGP. BMO Capital Markets dropped their target price on shares of CoStar Group from $78.00 to $75.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price target on shares of CoStar Group from $108.00 to $99.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered shares of CoStar Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $96.00 to $83.00 in a research report on Wednesday, October 23rd. Citigroup lowered their price target on shares of CoStar Group from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of CoStar Group from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, CoStar Group has an average rating of “Moderate Buy” and an average price target of $93.25.

Read Our Latest Stock Analysis on CoStar Group

CoStar Group Trading Down 2.8 %

Shares of CoStar Group stock opened at $73.13 on Monday. CoStar Group has a 12-month low of $68.26 and a 12-month high of $100.38. The company has a current ratio of 9.63, a quick ratio of 9.63 and a debt-to-equity ratio of 0.13. The stock has a market cap of $29.98 billion, a PE ratio of 166.21 and a beta of 0.83. The company has a 50-day moving average of $76.45 and a two-hundred day moving average of $75.89.

CoStar Group (NASDAQ:CSGPGet Free Report) last issued its earnings results on Tuesday, October 22nd. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.06. CoStar Group had a net margin of 6.57% and a return on equity of 3.53%. The company had revenue of $692.60 million during the quarter, compared to analysts’ expectations of $695.91 million. During the same period last year, the company posted $0.25 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts anticipate that CoStar Group will post 0.52 EPS for the current fiscal year.

Insider Buying and Selling

In other CoStar Group news, insider Michael J. Desmarais sold 5,500 shares of CoStar Group stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.88, for a total value of $439,340.00. Following the transaction, the insider now owns 58,798 shares in the company, valued at $4,696,784.24. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael R. Klein sold 71,633 shares of CoStar Group stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.69, for a total transaction of $5,350,268.77. Following the completion of the transaction, the director now owns 1,913,501 shares in the company, valued at approximately $142,919,389.69. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. 1.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On CoStar Group

A number of hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC boosted its holdings in shares of CoStar Group by 292.0% in the 3rd quarter. Tidal Investments LLC now owns 73,184 shares of the technology company’s stock valued at $5,521,000 after purchasing an additional 54,515 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CoStar Group in the 3rd quarter valued at $256,000. Coldstream Capital Management Inc. boosted its holdings in shares of CoStar Group by 6.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,370 shares of the technology company’s stock valued at $481,000 after purchasing an additional 391 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of CoStar Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 11,308,986 shares of the technology company’s stock valued at $850,656,000 after purchasing an additional 236,407 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in shares of CoStar Group by 7,715.2% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 5,158 shares of the technology company’s stock valued at $389,000 after acquiring an additional 5,092 shares during the period. Institutional investors and hedge funds own 96.60% of the company’s stock.

CoStar Group Company Profile

(Get Free Report)

CoStar Group, Inc provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. The company offers CoStar Property that provides inventory of office, industrial, retail, multifamily, hospitality, and student housing properties and land; CoStar Sales, a robust database of comparable commercial real estate sales transactions; CoStar Market Analytics to view and report on aggregated market and submarket trends; and CoStar Tenant, an online business-to-business prospecting and analytical tool that provides tenant information.

Further Reading

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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